Pre-Budget Submission - 10 Ideas to Support Queensland Jobs

With the Queensland State Budget less than two months away, Queensland’s property industry is seeking urgent action from the State Government to support residential sector jobs, in response to uncertain economic conditions.

The combined impacts of a decline in dwelling approvals, increased hurdles to accessing finance and a large drop-off in industry confidence means that urgent action must be taken to encourage further activity and support the jobs of Queenslanders who rely on the sector.

The Property Council has created 10 Ideas to Support Queensland Jobs, a 10-point policy blueprint to help guide the state’s residential policies. Over the coming weeks, the Property Council will be meeting with State policymakers and legislators to promote the document and help support residential growth.

Among the 10-points, the document calls for an increase to the First Home Owners’ Grant to $20,000 for metropolitan purchases and $25,000 in regional Queensland. Tax decreases are also being sought, with the Property Council pursuing the removal of the Additional Foreign Acquirer Duty and the reversal of the recent land tax increases.

Residential development and construction accounts for over 225,000 jobs in Queensland, with the sector paying $12.8 billion in incomes annually. Overall the residential sector contributes over $27.7 billion to the Queensland economy.